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Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11909; Residual Certificates; Tender Option Certificates/Bonds Feb 11 Product Image

Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11909; Residual Certificates; Tender Option Certificates/Bonds Feb 11

  • Published: February 2011
  • Region: Global
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA+/A-1' and 'AA+' ratings to Citigroup Global Markets ROCs/ROLs II-R Trust's series 11909, relating to Frisco, Texas' (Collin and Denton Counties) combination tax and revenue certificate of obligation series 2008A. The long-term component of the rating is based on the underlying bonds (AA+). The short-term component of the rating is based on a liquidity facility provided by Citibank N.A. (A-1). The short-term component of the rating on the ROCs is based on a shortfall liquidity swap agreement, where the swap counterparty is Citibank N.A. (A-1). Optionally tendered ROCs that are not remarketed will be purchased from the proceeds of the sale of a pro rata amount of bonds, and to the extent such...

Companies mentioned in this report are:
- Frisco
- Citigroup Global Markets ROCs/ROLs II-R Tr

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and READ MORE >

- Frisco
- Citigroup Global Markets ROCs/ROLs II-R Tr

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